Site of historic West Bromwich pub sells for nearly four times the guide price at auction
The site that one housed an historic Black Country pub has sold at an online property auction for more than three times its guide price.
The freehold land where the Rising Sun pub used to be located on Barton Street, West Bromwich, was successfully sold on behalf of Sandwell Council for £192,000, nearly four times the £50,000 guide price.
The Rising Sun dates back to the early nineteenth century, when there were two properties on the site with a shared brewhouse.
The pub changed hands several times over the next two centuries, before it closed its doors for the last time in 2005. The building was demolished in 2012 and the plot has remained vacant since.
It is hoped the site will become a residential development opportunity, after Sandwell Council outlined planning permission for four one-bedroom flats or two semi-detached houses on the vacant plot.
In a planning statement, issued in September 2020, Sandwell Council said: “The site is situated close to West Bromwich Town Centre and is well served by public transport opportunities which are close at hand with Metro Stops and bus stops some 900 metres away.
The site is located in area which has been the subject of major regeneration, in the very recent past. The general area around the site is mainly residential area in nature.
“The site is suitable for a small residential development of either a small block of apartments or a pair of semi-detached houses. The redevelopment of this site for residential development provides the opportunity to bring back the site into beneficial use in a well-established residential area.”
Bond Wolfe’s first auction of 2022 had total sales of £17.7 million, with 132 of the 146 lots offered being sold.
In Wolverhampton, a four-bedroomed, semi-detached house at 139 Tettenhall Road sold for £235,000 from a guide price of £170,000, while a former health centre at Hudson Drive, Burntwood, sold for £490,000 from a guide price of £400,000.
Bond Wolfe chief executive Gurpreet Bassi said: “The year has got off to a strong start with our first auction which raised over £17.7 million in sales.
“The property market remains buoyant, and the outlook is looking even more positive with further easing of Covid restrictions.”
Mr Bassi added: “Our first auction of the year proved there is phenomenal buyer interest for property up and down the UK.
“With many agencies reporting low stock levels it could be a fantastic time to sell a property by auction.”
Bond Wolfe’s next auction is on March 30.
